Market Analysis: 8 August 2018

Disclaimer: The views and claims expressed here are not meant as an alternative form of investment advice. Every investment move involves risk, and you should consult professional financial advisors for guidance or conduct your own research before making a decision.

According to TokenInsight analysis, Bitcoin popularity growth rates have rebounded significantly for 2 consecutive days now to 0.08%. The number of Bitcoin’s exchanged in the past 24 hours has also rebounded to 229,800. However, the daily mining profitability per THash/s is only $0.27, which is a second record low. BCtrend analyst states that small mine owners are currently suffering, but room for price decreases is quite limited since the popularity has already hit its bottom.

According to independent analyst Tommy Tang, after the SEC postpones the current decision on Bitcoin ETFs, Bitcoin’s price dropped to $6,500 mark and there’s still no sign of ceasing its decrease. Investors are advised to stay alert.